Gold slips to $585 as dollar firms up
WITH ANALYSIS FROM MONITOR CORRESPONDENTS AROUND THE WORLD, EDITED BY RUTH WALKER London
Gold fell to $585 an ounce, its lowest price since the wild fluctuations of January, and the dollar was strong Monday on world markets, anticipating anti-inflation moves soon from Washington. The price is falling back toward the which took it to a record $875 in January.
The strength of the dollar came largely from record high interest rates in the United States.